Philippine incumbent PLDT has bought Mindanao-based telco Metro Phone, giving it 75% of the fixed-line market in the country’s second-largest island.
It acquired the group through its wholly owned unit PLDT-Philcom, which is Mindanao’s largest local…
Philippine incumbent PLDT has bought Mindanao-based telco Metro Phone, giving it 75% of the fixed-line market in the country’s second-largest island.
It acquired the group through its wholly owned unit PLDT-Philcom, which is Mindanao’s largest local exchange carrier.
Financial details were not disclosed.
PLDT has earmarked PHP39bn (US$869m) for capital expenditure in 2015, after spending PHP34.8bn (US$776m) on capex last year to help expand its fibre network to nearly 100,000km.
Napoleon Nazareno, PLDT’s CEO, said: “With this acquisition, PLDT will be able to better serve a greater number of customers with its expanding multimedia and digital services that are powered by its unparalleled fibre optic network.”
